The Trading Channel
What should I look for when trading ascending wedges?
Look for a level of resistance that's hit multiple times while we have rising support levels or rising swing lows.
What should I do once an ascending wedge is broken to the upside?
Continue watching the market to see if it will push higher or stop out for break even.
How should I position myself when trading ascending wedges?
Position yourself accordingly and be prepared to push up or push back down.
What should I look for in a bearish version of a descending triangle?
Look for a level of support that's hit multiple times while we have falling resistance levels or falling swing highs.
What is the likely direction of a bearish descending triangle once broken to the downside?
They are likely to continue in that direction.
Should I wait for a pullback when trading a bearish descending triangle?
Yes, wait for a pullback to come back into that level to get a better reward to risk setup.
Is understanding technical analysis enough to be consistently profitable?
No, understanding technical analysis alone is not enough.
What can I do if I am unable to join a mentorship program for trading?
Combine technical factors to create a strategy, backtest it, create a risk management plan, work on trading psychology, and demo trade. Once confident and consistent, take trading live.
Where can I find more information on the eap training program?
Click the link in the description for more information on the eap training program, which includes all paid content for a discounted price.
If I cannot join a program, where can I find resources on risk management and trading psychology?
Look up risk management and trading psychology on YouTube to implement into everything already learned.
Is there anything else I should do besides trading techniques?
Don't forget to like and subscribe!
What are Moving Averages?
Moving Averages are indicators that calculate the average movement of prices over a certain period of time.
Which is the most commonly used Moving Average?
The most commonly used Moving Average is the 20-period moving average.
How can I plot the 20-period moving average on a chart?
To plot the 20-period moving average on a chart, go to indicators, type in 'moving average,' and select the 20-period moving average.
What does a price above the 20-period moving average indicate?
A price above the 20-period moving average indicates an uptrend.
What does a price below the 20-period moving average indicate?
A price below the 20-period moving average indicates a downtrend.
What are the commonly used areas of value?
The commonly used areas of value are the 20-period, 50-period, and 200-period moving averages.
How can the moving average be used as a trailing stop?
The moving average can be used as a trailing stop in a trending market to capture more targets out of a trade.
What is the RSI Indicator used for?
The RSI Indicator is considered a momentum indicator, not a reversal indicator. It is used in combination with other technical factors to identify useful areas.
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